Michelin said this is the first time it39s increased prices in nearly 5 years Photo courtesy of Michelin

Bridgestone, Michelin also raising tire prices

Feb. 2, 2017
Both say rising raw material prices and “other market dynamics” are boosting production costs, resulting in the need for 8% price hikes.

Bridgestone Americas Tire Operations and Michelin North America both plan to increase prices across of a range of their tire lines by up to 8% starting March 1, following a similar move by Yokohama in response to higher raw material costs and “other market dynamics.”

Bridgestone plans to “adjust” prices upward in North America across a “range” of its passenger, light truck, commercial truck, bus, off- road, and agricultural tires, as well as retread products and tire tubes, by up to 8% starting March 1 this year.

Michelin’s price hike will affect all of its tire segments, the company noted, including passenger, heavy truck, earth-mover, industrial handling, agriculture and two-wheelers in the U.S., Canada and Mexico.

“This increase represents Michelin’s first since 2012, comprising net effects of raw material prices as well as … technology enhancements, innovations and other market conditions,” the company noted in a statement.

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